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twilliam2
September 27, 2023
Question

Negative Average Cost

  • September 27, 2023
  • 1 reply
  • 0 views

An item receipt had been done.  It was determined the PO and the item receipt had the wrong sku.  The PO writer changed the sku code on the PO.  Next went to the item receipt and unreceived the original sku then received the new sku.  Do believe went out of order (think should have unreceived then changed sku on PO, then received the new sku).  Now having problems with that item in Inventory List (still shows quantity under the old sku but if you run Report >Inventory>Items by Bin Location all show under the new sku and zero under old sku).  In addition different item on the same receiver and PO, that was not touched/changed in the previously described actions, is showing a negative average cost.  Now unable to make any changes to the receiver due to the negative (that is will not allow to delete any lines).  Will trying to completely delete the item receipt and reenter with same information resolve? 

1 reply

G
GlinetteC
September 27, 2023

I'll help you fix the issue regarding negative average cost, twilliam2.

 

Consider reviewing the item with the negative cost and manually adjust the amount to resolve it. You can follow these steps:

 

  1. Go to the Lists menu and select Item List.
  2.  Locate the item with the negative average cost and double-click on it. 
  3. In the Edit Item window, click the Average Cost field and manually adjust it. 
  4. Tap Save.

 

I'm sharing an article to learn how QuickBooks computes for the average cost and know which report will help with inventory management: Understand inventory assets and cost of goods sold tracking.

 

Moreover, I recommend reviewing this link to provide an in-depth understanding of negative inventory. It discusses the possible causes of negative inventory and outlines the steps to help you address and resolve any issues stemming from negative inventory: Fix negative inventory issues in QuickBooks Desktop.

 

Rest assured that I'll provide continued assistance whenever you require additional help managing inventory in QuickBooks.

T
twilliam2Author
September 28, 2023

Thanks for the response unfortunately the Average Cost Field in Edit Item is not clickable.

 

 

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